Wealthfront Advisers LLC Decreases Position in CDW Co. (NASDAQ:CDW)

Wealthfront Advisers LLC lessened its holdings in CDW Co. (NASDAQ:CDW) by 52.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,849 shares of the information technology services provider’s stock after selling 3,200 shares during the period. Wealthfront Advisers LLC’s holdings in CDW were worth $496,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CDW. Massachusetts Financial Services Co. MA purchased a new position in CDW in the 3rd quarter valued at approximately $416,111,000. Janus Henderson Group PLC raised its holdings in shares of CDW by 7,029.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after purchasing an additional 1,446,025 shares in the last quarter. Holocene Advisors LP acquired a new stake in shares of CDW in the 3rd quarter valued at $172,217,000. Proficio Capital Partners LLC raised its holdings in shares of CDW by 18,259.3% in the 4th quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider’s stock valued at $119,598,000 after purchasing an additional 683,446 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of CDW by 7,549.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock valued at $44,601,000 after purchasing an additional 252,921 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Price Performance

Shares of NASDAQ:CDW opened at $167.00 on Monday. The company’s fifty day moving average price is $185.56 and its 200 day moving average price is $194.86. CDW Co. has a 12 month low of $162.84 and a 12 month high of $263.37. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. The firm has a market capitalization of $22.13 billion, a P/E ratio of 20.95, a P/E/G ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. As a group, sell-side analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a $0.625 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.50%. CDW’s dividend payout ratio is presently 31.37%.

CDW declared that its board has approved a share repurchase plan on Wednesday, February 5th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Barclays raised their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Morgan Stanley raised their price objective on shares of CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, UBS Group reduced their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, CDW has an average rating of “Moderate Buy” and a consensus target price of $242.67.

About CDW

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.